LONDON, ENGLAND - DECEMBER 07: A visual representation of the digital Cryptocurrency, Bitcoin on December 07, 2017 in London, England. Cryptocurrencies including Bitcoin, Ethereum, and Lightcoin have seen unprecedented growth in 2017, despite remaining extremely volatile. While digital currencies across the board have divided opinion between financial institutions, and now have a market cap of around 175 Billion USD, the crypto sector coninues to grow, as it continues to see wider mainstreem adoption. The price of one Bitcoin passed 15,000 USD across many exchanges today taking it higher than previous all time highs. (Photo by Dan Kitwood/Getty Images)
Charles Hoskinson Bitcoin: Cardano’s founder Charles Hoskinson says Bitcoin might be ready to explode in what could be its biggest bull run ever. He believes Bitcoin could reach $250,000 in the next one or two years. Hoskinson shared this bold view as Bitcoin already climbed past $117,000, reaching higher than ever before. He thinks this rise is just the beginning and expects more growth soon, especially now that two big crypto bills are expected to move ahead in the U.S. next week the CLARITY Act and the GENIUS Stablecoin Act.
Right now, Bitcoin is showing strong movement in the market. It broke out of the $95,000 to $100,000 range and went past $117,000, while daily trading volumes went above $100 billion, reported The currency analytics. According to Hoskinson, this shows that the market has entered a fresh phase, where big investors are gaining trust and feeling more confident. He believes this is mostly because clear rules are finally coming into place, and that will open the door for more money to come into crypto.
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For a long time, people in the crypto world have been confused about rules, especially in the U.S. There was always doubt about whether crypto was being treated like stocks, commodities, or something else entirely. Because of that, companies and investors didn’t know which rules to follow. But now, that might finally change.
The CLARITY Act, which is expected to be discussed and voted on in the U.S. House during “Crypto Week” starting July 14, wants to fix this problem. This bill is meant to clear up who controls what whether it’s the SEC or the CFTC and this would make it way easier for businesses and investors to understand how crypto is governed. Hoskinson feels like this kind of legal structure is exactly what big companies need before they start putting large amounts of money into digital coins like Bitcoin. He says that once the legal part feels safe, huge investments will follow, something we’ve never seen before.
At the same time, the GENIUS Stablecoin Act is also expected to move forward. This bill already passed the Senate and now just needs House approval. Former U.S. President Donald Trump said he supports it and is ready to sign it once it goes through.
This bill aims to set rules for how stablecoins are created and used. Stablecoins are very important in the crypto world, as people use them for payments, lending, and saving. Hoskinson believes stablecoins help connect regular users to blockchain technology and bring more people into the crypto world. If the GENIUS Act becomes law, it could help build even more trust in stablecoin use and lead to more growth.
Hoskinson had already guessed earlier this year that Bitcoin might reach $250,000, but now he feels even more confident because the laws are finally moving. He said if the U.S. Federal Reserve cuts interest rates and these two crypto bills pass, there’s a big chance a lot of money will rush into the crypto market fast.
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That’s when he thinks Bitcoin will enter a brand new level. Hoskinson believes Bitcoin’s value could rise so much that its total market size might touch $5 trillion, putting it almost as big as gold and even competing with tech giants like Apple or Nvidia.
He also said this next bull run could be something totally different he even called it a “gigachad bull run,” meaning it won’t be like the normal up-and-down movement we’ve seen before. He feels that when you mix legal clarity, new technology, and global money shifts, you get a perfect situation for a massive rise across the entire crypto world.
And he’s not alone. Big names like Ripple CEO Brad Garlinghouse and Coinbase CEO Brian Armstrong have also talked about how important clear rules are. They all agree that if the laws are strong and simple, then more people and companies will start using and investing in crypto.
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